Keeps professional sports franchises in their home communities by requiring franchise owners offer the franchise for sale prior to relocating or.
The bill, known as the Home Team Act, amends the arts and cultural affairs law to keep professional sports franchises in their home communities. It requires franchise owners to offer the franchise for sale before relocating or eliminating it. Franchise owners must provide notice to the community and the comptroller at least six months prior to relocation or elimination. The comptroller will then establish a team of appraisers to determine a fair price for the franchise.
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